DT Midstream vs International Seaways
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KIRA’s take AI analyst
I put DT Midstream and International Seaways side by side, using each one’s latest annual report. Here is what stands out:
- DT Midstream is the larger business, with $1.2B of revenue in fiscal 2025 against $843M for International Seaways.
- DT Midstream grew revenue faster (26.7%, against −11.4%).
- DT Midstream kept more of each dollar of sales as operating profit (49.4% operating margin, against 41.0%).
- International Seaways turned more of its sales into free cash flow (44.9% FCF margin, against 35.5%).
- Investors pay more for each dollar of DT Midstream’s earnings: a P/E of 27.1x against 7.1x for International Seaways.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
DT Midstream
DTM
3/9
Revenue growthOperating marginPiotroski F-score
International Seaways
INSW
6/9
5-year growthNet marginFCF marginReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | DTM FY25 | INSW FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.7B | $5.5B |
| Revenue | $1.2B | $843M |
| Free cash flow | $441M | $379M |
| Net income | $441M | $309M |
| Growth | ||
| Revenue growth | 26.7% | −11.4% |
| 5-year growth | 10.5% | 14.9% |
| Share count change | 4.2% | −0.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 49.4% | 41.0% |
| Net margin | 35.5% | 36.7% |
| FCF margin | 35.5% | 44.9% |
| Return on capital | 5.7% | — |
| Return on equity | 9.4% | 16.0% |
| Balance sheet | ||
| Net debt | $3.3B | $400M |
| Net debt / EBITDA | 3.8x | 0.8x |
| Dividends and buybacks | $324M | $145M |
| Valuation & quality | ||
| P/E | 27.1x | 7.1x |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.